Annual inflation rate takes a fall

January 25, 2024

Good Morning,

People could breathe a sigh of relief on Wednesday morning, with news the annual inflation rate fell to 4.7 per cent, Labor’s recalibration of the $21 billion-a-year stage three income tax cuts could encourage lower-income people to work more hours, Donald Trump has won the New Hampshire primary, likely cementing his place as the Republican presidential nominee & China’s EV players ramp up competition with Tesla using new tech.

Let's jump in.

Before The Bell

Markets

  • People could breathe a sigh of relief on Wednesday morning, with news the annual inflation rate fell to 4.7 per cent in the December quarter. (Herald)

  • Australian shares edged up in a subdued session, as a 33 per cent plunge in Nanosonics limited early gains after the S&P 500 notched a third consecutive record high amid mixed quarterly reports. (AFR)

  • Australian shares are poised to open up as the S&P 500 and Nasdaq Composite attracted buyers even amid a slew of mixed quarterly reports. The S&P 500 reset its closing high for a third session in a row. (AFR)

  • China's securities regulators have asked some hedge fund managers to restrict short selling in its stock index futures market, two sources said, as authorities seek to stabilise sinking stocks. (RT)

Earnings and Data

  • Stocks gained as investors rewarded companies for positive earnings updates and as China’s latest move to stimulate its economy boosted resources shares. (BBG)

News Summary

  • A social media content creator who drove a powerboat into a flock of endangered birds at speed - then boasted of the likely fatal collision on Instagram - argued today that he shouldn’t be convicted of the crime because it might damage his professional rugby prospects. (Herald)

  • The father of an Australian woman Hannah Clarke who was brutally killed by her Kiwi ex-husband, a former rugby league player, says there were signs of “coercive control” in their relationship. (Stuff)

  • Tropical Cyclone Kirrily has officially formed into a category 1 system, threatening Queensland with intense rain, flash flooding and damaging winds. (9 News)

  • Labor’s recalibration of the $21 billion-a-year stage three income tax cuts could encourage lower-income people to work more hours, but make negative gearing more attractive for high-income earners. (AFR)

  • Donald Trump has won the New Hampshire primary, likely cementing his place as the Republican presidential nominee. (Guardian)

  • Last week, the two eminent analysts dropped a bomb - so to speak - in stating their belief that the pariah state's leader is preparing for war. (BBC)

  • China’s EV players ramp up competition with Tesla using new tech. (CNBC)

Deal Flow

Investments / M&A

  • Jefferies Australia has secured a sell-side role and is expected to tap into its global franchise to help find a buyer for the $4 billion homegrown success story. (AFR)

  • Newmark manager gets lucky; MS, Highbury stitch up big-premium merger. (AFR)

VC & Fundraising

  • Japanese Prime Minister Fumio Kishida will seek to stop his ruling party’s factions from fundraising and competing for leadership positions, after a money scandal sent its public support to the lowest on record in one poll last week. (BBG)

Equity Raises

  • Amer Sports Inc., the maker of Wilson tennis rackets and Salomon ski boots, is seeking to raise as much as $1.8 billion in an initial US public offering, according to people familiar with the matter. (BBG)

  • Shenzhen Gantang Mingshan Catering Co., the company behind popular Chinese restaurant chains including grilled fish diner Tanyu, is weighing an initial public offering in Hong Kong as soon as this year, according to people familiar with the matter. (BBG)

Debt

  • There are some big bank bond deals in the market this week with Westpac and ANZ putting the finishing touches to multi-billion dollar raisings. (AFR)

Daily Picks

  • New Zealand’s under-19 cricket coach says his side will heed the lesson from the controversial ‘Mankad’ dismissal in their dramatic win over Afghanistan. (Stuff)

  • Elon Musk has admitted to being “frankly naive” about the extent of anti-Semitism in the West, adding that sympathy for pro-Hamas rallies at US universities “blew my mind”. (Stuff)

The Daily Deck is sponsored by Industrial Equity, LLC

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